[pcabc]

Gold, PHGP:


PHGP is breaking out from recent highs, however, in my own breadth charts the breadth of the miners there is some movement but it is early days.
   

[moneymaker]

Hi everyone,

I'm looking to invest in canadian gold in the next few days (bullish sector according to XGD).

What's everyone's thoughts on YRI and BTO?

According to what I've read so far in Stan's book, the indicators are screaming to "buy". But I'm not sure, first time using this method so I'd appreciate if someone more experienced could share their thoughts.

I've looked at the WMA(150), the Mansfield Relative Strength, and the MACD.

Thanks in advance.

[isatrader]

Hi everyone,

I'm looking to invest in canadian gold in the next few days (bullish sector according to XGD).

What's everyone's thoughts on YRI and BTO?

According to what I've read so far in Stan's book, the indicators are screaming to "buy". But I'm not sure, first time using this method so I'd appreciate if someone more experienced could share their thoughts.

I've looked at the WMA(150), the Mansfield Relative Strength, and the MACD.

Thanks in advance.

Gold priced in Canadian dollars might be breaking out. But from looking at the charts, YRI.TO is in Stage 4 and BTO.TO is in Stage 1, so I'm not sure why you think they are such good charts, when there is a lot of others in the sector in better positions? Check your charts against the requirements in the Stage Analysis Breakout Quality Checklist thread, as that will help you.

[briansmith456]

Hi everyone,

I'm looking to invest in canadian gold in the next few days (bullish sector according to XGD).

What's everyone's thoughts on YRI and BTO?

According to what I've read so far in Stan's book, the indicators are screaming to "buy". But I'm not sure, first time using this method so I'd appreciate if someone more experienced could share their thoughts.

I've looked at the WMA(150), the Mansfield Relative Strength, and the MACD.

Thanks in advance.

Gold priced in Canadian dollars might be breaking out. But from looking at the charts, YRI.TO is in Stage 4 and BTO.TO is in Stage 1, so I'm not sure why you think they are such good charts, when there is a lot of others in the sector in better positions? Check your charts against the requirements in the Stage Analysis Breakout Quality Checklist thread, as that will help you.

Hi Isatrader,
I was hoping you could comment on how you determine BTO.TO to be in stage 1 as opposed to stage  2 breakout? Is it because  30 ema on weekly has not turned up much yet and 10 MA on weekly is not yet rising? I am looking at your checklist.
I attached a chart. Thanks  for clarifying.
Brian

[isatrader]

Hi Isatrader,
I was hoping you could comment on how you determine BTO.TO to be in stage 1 as opposed to stage  2 breakout? Is it because  30 ema on weekly has not turned up much yet and 10 MA on weekly is not yet rising? I am looking at your checklist.
I attached a chart. Thanks  for clarifying.
Brian

Hi Brian, I've marked up the weekly chart for you to help

But I'd say it had a failed Stage 2 breakout from December, and you would have likely been stopped out if you'd taken it then, as it had months back below the 30 week MA, and so it becomes Stage 1 again, with a new higher breakout point at the February high. As Stage 1 isn't always clean, as the stock can have a few failed breakouts and build a broader range before moving into a proper Stage 2 advance. So watch out for significant resistance from the last two to three years. As even if it does breakout into early Stage 2, it can be held back until it clears that resistance range.

People new to the method always tend to aim to get into early Stage 2, but it's much easier to get in to a stock after the first consolidation base has formed following a Stage 2 breakout. As the trend is then on your side, and resistance has been overcome.

Note: When you post, please put the reply underneath the previous quote, as otherwise it gets mixed in with the quote. So scroll to the bottom and add a paragraph space first, and then type your reply.

       

[moneymaker]

Gold priced in Canadian dollars might be breaking out. But from looking at the charts, YRI.TO is in Stage 4 and BTO.TO is in Stage 1, so I'm not sure why you think they are such good charts, when there is a lot of others in the sector in better positions? Check your charts against the requirements in the Stage Analysis Breakout Quality Checklist thread, as that will help you.

Hi isa,

I've looked at your checklist, and their Ichimoku cloud does not look good yet (what other requirements do they not meet?). 

I've picked the 2 stocks I mentioned because they recently crossed the MA(30) and the Mansfield Relative Strength is above 0.

BTO seems to have crossed a resistance last week, the last time it crossed that same resistance is back in Dec2018 and it went above 4.30 after that. Also, BTO reported strong Q1 results.

I also looked at the following gold stocks:

IMG.TO
WDO.TO
ASR.TO
COP.TO

Which ones do you suggest are in better positions in the TSX?

Thanks in advance.

[isatrader]

Other than being just above the 30 week it's 14% below it's February high. The 10 week MA is below the 30 week MA. We can't assess the volume until it makes a new breakout attempt above the recent high, as the volume requirement is for the Stage 2 breakout week and after. Relative performance might be above the zero line, but as with price it's below the recent highs. See the marked up chart on the previous page.

IMG.TO - Stage 4
WDO.TO - Stage 2 continuation attempt, average volume
ASR.TO - Stage 2 continuation attempt, no volume increase
COP.TO - Early Stage 2. Breaking down back towards 30 week MA

[briansmith456]

Hi Isatrader,
I was hoping you could comment on how you determine BTO.TO to be in stage 1 as opposed to stage  2 breakout? Is it because  30 ema on weekly has not turned up much yet and 10 MA on weekly is not yet rising? I am looking at your checklist.
I attached a chart. Thanks  for clarifying.
Brian

Hi Brian, I've marked up the weekly chart for you to help

But I'd say it had a failed Stage 2 breakout from December, and you would have likely been stopped out if you'd taken it then, as it had months back below the 30 week MA, and so it becomes Stage 1 again, with a new higher breakout point at the February high. As Stage 1 isn't always clean, as the stock can have a few failed breakouts and build a broader range before moving into a proper Stage 2 advance. So watch out for significant resistance from the last two to three years. As even if it does breakout into early Stage 2, it can be held back until it clears that resistance range.

People new to the method always tend to aim to get into early Stage 2, but it's much easier to get in to a stock after the first consolidation base has formed following a Stage 2 breakout. As the trend is then on your side, and resistance has been overcome.

Note: When you post, please put the reply underneath the previous quote, as otherwise it gets mixed in with the quote. So scroll to the bottom and add a paragraph space first, and then type your reply.

Thanks for clarifying  how to determine the stages. Much appreciated.
Brian